FTSE 250 movers: Kaz Minerals drops, Intu climbs

London's FTSE 250 was down 1.04% at 20,112.56 in afternoon trade on Monday, with Kaz Minerals leading the index lower.

Charter Court Financial Services Group

n/a

JPMorgan Indian Investment Trust

1,048.00p

12:40 24/12/24

0.96%

10.00p

Meanwhile, Charter Court Financial Services was also lower after its proposed all-share combination with OneSavings Bank received regulatory approval from both the Prudential Regulation Authority and the Financial Conduct Authority after the close of trading on Friday, with OneSavings offering 0.8253 of a share for each Charter Court share.

Analysts at Shore Capital cautioned investors, stating that while the merger had sound strategic logic, it expected the transaction to be only modestly accretive to earnings per share of OneSavings due to increased finance costs.

Up at the other end of the index, shopping centre operator Intu Properties was the top riser, while retailers Ted Baker, Pets at Home and Dunelm rallied after the sector sustained heavy losses last week.

The JPMorgan Indian Investment Trust followed close behind after Indian stock markets extended a Friday surge that followed the South Asian nation's government introducing sweeping corporate tax cuts in a bid to stimulate its economy.

Finally, precious metals miners Centamin and Hochschild were both higher as gold prices benefited from increased demand for safe haven assets after European stocks fell on the back of poor German manufacturing data.

Market Movers

FTSE 250 (MCX) 19,960.43 -1.04%

FTSE 250 - Risers

Intu Properties (INTU) 40.59p 4.99%
Ted Baker (TED) 983.50p 4.74%
JPMorgan Indian Investment Trust (JII) 744.00p 3.91%
Centamin (DI) (CEY) 129.85p 3.38%
Future (FUTR) 1,320.00p 3.29%
Amigo Holdings (AMGO) 69.90p 2.79%
Hochschild Mining (HOC) 215.99p 2.56%
Daejan Holdings (DJAN) 5,070.00p 2.53%
Pets at Home Group (PETS) 224.60p 2.18%
Dunelm Group (DNLM) 860.00p 1.71%